Section 165U — Resource Management Act 1991: Tender money

165U Tender money (1) If the holder of an authorisation obtains a coastal permit authorising the holder to undertake an activity in respect of which the authorisation was granted, the regional council must forward to the Minister 50% of the remuneration received under the tender. (2) The Minister must cause the money to be paid into the Crown Bank Account in accordance with the Public Finance Act 1989 . (3) If an authorisation granted to a successful tenderer has lapsed under section 165N , the regional council must, as soon as possible, refund the remuneration to the tenderer. (4) If a tenderer who has failed to obtain an authorisation forwarded a payment to the regional council under section 165Q(3) , the regional council must, as soon as possible, refund the payment to the tenderer. (5) This section applies subject to section 26 of the Maori Commercial Aquaculture Claims Settlement Act 2004 . Part 7A (comprising sections 165A to 165ZJ) was inserted, as from 1 January 2005, by section 20 Resource Management Amendment Act (No 2) 2004 (2004 No 103).